Ameriprise Financial Inc. lowered its holdings in Middleby Corp (NASDAQ:MIDD) by 69.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 46,306 shares of the industrial products company’s stock after selling 103,335 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.08% of Middleby worth $5,934,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Stifel Financial Corp raised its position in shares of Middleby by 15.3% in the 2nd quarter. Stifel Financial Corp now owns 8,402 shares of the industrial products company’s stock worth $1,017,000 after acquiring an additional 1,113 shares in the last quarter. Arcadia Investment Management Corp MI increased its position in Middleby by 1.1% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 42,548 shares of the industrial products company’s stock valued at $5,453,000 after buying an additional 470 shares in the last quarter. Nicholas Company Inc. increased its position in Middleby by 173.8% during the 2nd quarter. Nicholas Company Inc. now owns 133,945 shares of the industrial products company’s stock valued at $16,275,000 after buying an additional 85,020 shares in the last quarter. Financial Counselors Inc. increased its position in Middleby by 39.7% during the 2nd quarter. Financial Counselors Inc. now owns 14,673 shares of the industrial products company’s stock valued at $1,783,000 after buying an additional 4,170 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its position in Middleby by 38.3% during the 2nd quarter. Eagle Asset Management Inc. now owns 267,864 shares of the industrial products company’s stock valued at $32,548,000 after buying an additional 74,120 shares in the last quarter. Institutional investors and hedge funds own 99.08% of the company’s stock.
A number of research firms recently weighed in on MIDD. Zacks Investment Research raised Middleby from a “sell” rating to a “hold” rating and set a $154.00 price objective for the company in a research report on Monday, January 8th. BidaskClub lowered Middleby from a “buy” rating to a “hold” rating in a report on Friday, January 5th. Citigroup reduced their target price on Middleby from $132.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, November 10th. Susquehanna Bancshares initiated coverage on Middleby in a report on Wednesday, September 27th. They issued a “positive” rating and a $141.00 target price for the company. Finally, BMO Capital Markets reduced their target price on Middleby from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Thursday, November 9th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Middleby presently has a consensus rating of “Buy” and a consensus target price of $138.56.
Middleby Corp (MIDD) opened at $135.73 on Friday. The stock has a market capitalization of $7,590.00, a price-to-earnings ratio of 25.51 and a beta of 1.88. The company has a quick ratio of 1.02, a current ratio of 1.93 and a debt-to-equity ratio of 0.72. Middleby Corp has a 52 week low of $107.53 and a 52 week high of $150.87.
Middleby declared that its board has authorized a stock buyback plan on Tuesday, November 14th that authorizes the company to buyback 2,500,000 outstanding shares. This buyback authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.
In related news, Treasurer Martin M. Lindsay sold 10,000 shares of Middleby stock in a transaction on Friday, December 15th. The stock was sold at an average price of $129.50, for a total transaction of $1,295,000.00. Following the transaction, the treasurer now directly owns 61,726 shares in the company, valued at $7,993,517. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is currently owned by insiders.
Middleby Company Profile
The Middleby Corporation is engaged in the design, manufacture and sale of commercial foodservice, food processing equipment and residential kitchen equipment. The Company operates in three segments: the Commercial Foodservice Equipment Group, the Food Processing Equipment Group and the Residential Kitchen Equipment Group.
Receive News & Ratings for Middleby Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Middleby and related companies with MarketBeat.com's FREE daily email newsletter.